Marina Del Rey Condominium $15 Lawsuits, Toronto

The Toronto Waterfront area can be a beautiful place to live. I thought all my dreams had come true when I moved in to my condominium 23 years ago. It has the most spectacular view of this city! However, I soon discovered that purchasing this property would become my biggest nightmare! I have now been homeless for 13 years!

This is a cautionary tale about what happens to a condo owner at Marina Del Rey Phase I, 2261 Lake Shore Blvd. W, who is forced to commence legal action in an effort to rebuild her home after years of continuous water flooding problems, mismanagement, neglect of duties, and bad faith displayed by insurance companies.

I have started this blog with the hope that I can provide help and encouragement to others who find themselves in a similar situation. Insurance companies and corporations have lots of money and lawyers to fight us. However, we have the power of the internet and the social media to connect, support each other, and exchange helpful information.

Thursday, 9 July 2015

Wow, More Law Suits - Buyer Beware?

I came across an interesting Toronto Real Estate Blog, excerpts below:

"When it comes to downtown Toronto condos, the buyer, buyer’s agent, and lawyer, have to be exceptionally diligent about the condominium corporation that the buyer is purchasing into.

Most, if not all offers to purchase are conditional on a review of the condominium’s “Status Certificate,” where you look for potential red flags. You want to make sure the seller has paid his or her taxes and maintenance fees, that there are no liens on the condo, that the building has a sufficient reserve fund, and that there are no major expenditures for the building that could result in a special assessment, or a large increase in maintenance fees."

"Those expenditures, of course, could be related to any number of things. The most common large expenditure that buyers and condo owners fear is a substantial renovation, or repair. Obviously older condos are in greater risk of a large repair being needed, perhaps for a failing system (heating, mechanical, etc.), or a significant renovation (remodelling an 1970′s lobby, etc)."

"I’m not saying that legal actions aren’t a serious matter, but I am saying that they’re extremely common in downtown Toronto condos, and you simply can’t always be afraid of the word “lawsuit”…."-------------------------------------------------------------------------------------------------------------------

I have also been told by the lawyer and the real estate agent who organized a meeting for Marina Del Rey condo owners + they are behind a lawsuit against me - that there are plans for "many more lawsuits."

Can owners sue each other for having lawsuits against the corporation?

What if we have a legitimate claim?

Do we not have a right to sue? Flooding unit when it rains, bursting toilets, leaking pipes, slip and fall accident, garage door has no sensor and crushes a car or a person.

If you sue Marina Del Rey Phase I condo corporation, be prepared to get sued back by the owners!

13 comments:

Some Toronto owners seem to think they live in the US, where punitive damages can run high.I am keenly aware of a moronic $10 million dollar suit claiming myriad damages primarily because of a small water leak over a decade ago. All efforts at the time of incident to repair said damage were thwarted (paranoid owner) to the point that mold set in and the owner came home to find her unit stripped of all toxins…namely floors and walls.And it went downhill from there. On the one hand it’s a fascinating character study; on the other hand it scares off touchy buyers who actually think she might exceed the corporation’s immense insurance coverage.

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I have owned and lived in this Building (Phase I) Marina Del Ray for several years and I have never had any serious problems. I am also a builder by trade and build apartment buildings, and this development has always impressed me.

Any place you live needs maintenance, but I have never had an issue when I have asked that the windows be replaced in the unit or anything else that needed to be done. Any home needs upkeep.

I am also a property manager, and my extensive property management experience there is always one person that has resolvable issue, but they simply have too much time on their hands to worry about reasonably working through a resolvable issue and it ends up just being a form of attention seeking.

I submitted countless maintenance requests, emails, letters and was ignored. The City of Toronto had to get involved and issued multiple Orders against the condo corporation to fix my unit. I have recorded the past 5 years of annual general meetings. I am not the only person with leaking issues who has been ignored. I just found out another owner is suing the condo corporation regarding a flood. Another owner that I met at the last annual general meeting is also considering a law suit.

I have a page on Condomadness.info about the effect that a website has on condo sales.http://www.condomadness.info/organizing-values.html

I believe that a negative website or even a full page newspaper article has little to no impact on total sales. Why? Far too many condo buyers don't do any research at all. The smarter buyers will avoid the condo, but most buyers spend more time buying their next pair of shoes than in buying a condo.

So unfortunately your building's upgraded lobby and carpet will attract far more buyers than your blog will scare away.

You are absolutely right! And the Board of Directors, real estate lawyers assure new purchasers - Don't worry, it's covered by the condominium corporations insurance. Having owned a condominium unit at this building got more than 25 years, I have witnessed insurance deductibles starting at $1000, rising yo $5000, and now at $25,000. Can you imagine? If your unit is flooded, and your deductible is now $25,000. Seriously bad news.